By Josh Beckerman
Canada's Competition Bureau is challenging GFL Environmental Inc.'s purchase of Terrapure Environmental Inc., completed in August, saying the deal is likely to cause higher prices for some industrial waste and oil recycling customers in Western Canada.
GFL said it "intends to work cooperatively with the Competition Bureau to resolve this matter." The company said an application challenging certain aspects of the deal relates to seven specific locations that have annual revenue of about 30 million Canadian dollars (US$23.5 million). GFL noted that the deal closed "following the expiration of the statutory waiting period."
The Competition Bureau said it determined that the transaction "is likely to cause a substantial lessening of competition" in oil recycling services in eight regions across British Columbia, Alberta and Saskatchewan.
The bureau mentioned a different energy-related service in its objection to another deal. In June, the bureau said it would seek to block Secure Energy Services Inc.'s proposed acquisition of Tervita Corp. to protect competition for oil and gas waste disposal services. The transaction was completed in July.
On Oct. 1, the bureau said it obtained court orders "to further inform its challenge." The orders required Albright Flush Systems Ltd., AQT Water Management Inc., and Galatea Technologies Inc., to produce records and written information relating to provision of waste disposal services, the bureau said.
Write to Josh Beckerman at email@example.com
(END) Dow Jones Newswires